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Home >> Lending >> Credit Cards
Refusal to Cash Check on Delinquent Loan
If I missed this month's Visa payment, can the bank refuse to cash my check even if I have money in my account to cover the amount?
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 The only time we have seen this is when the creditor, Visa in this case, has decided to accelerate the debt and demand that it be paid off. In that instance, a partial payment of the entire balance, is not acceptable. Also, if there is a habit of sending checks that do not pay, they may require another method, cash, cashier's check, money order, etc. Ask them what form of payment they will accept, and in what amount.
Published on BankingQuestions.com 9/24/09
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